China Trade Information

Yunnan Copper Industry Group<000878>, China’s third-largest copper producer, is expanding into Australia through a newly listed company, China Yunnan Copper Australia Limited (CYCAL).

Yunnan copper holds a 21.2% stake in CYCAL, which was listed on the Australian stock exchange last month. On its first day of trading, CYCAL nearly tripled its value, fuelled by huge demand of copper. It was reported that the company raised A$4 million on the IPO through the issuing of 16 million shares.

As a cornerstone investor, Yunnan copper will provide project funding and technical expertise, so as to support the company’s global expansion strategy.

In line, CYCAl has targeted high quality copper, gold and uranium projects, along with 11 wholly owned Exploration Permit for Minerals(EPM’s) tenements in the Mt Isa Inlier, Ravenswood-Pentland Province and the Clermont Inlier in Queensland, Australia.

Yunnan Copper Co., Ltd. is primarily engaged in the production and sale of non-ferrous metals and related products, as well as chemical products. The company expects to generate revenue of approximately US$ 5.6 billion in 2007.

Tags: Copper

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